02 February 2009 18:43 [Source: ICIS news]
HOUSTON (ICIS news)--Norwegian shipper Odfjell said on Monday it had agreed to charter three stainless steel parcel tankers from its Saudi Arabian partner, National Chemical Carriers (NCC).
The deal calls for Odfjell to bareboat charter the three 37,000 dwt vessels - NCC Jubail (1996), NCC Mekka (1995) and NCC Riyad (1995) - for 10 years with purchase options after 3 years, Odfjell said.
Under a bareboat charter, no crew or provisions are included as part of the agreement. The chartering company appoints the master and crew and assumes all responsibility for operation of the vessel and its expenses.
The ships will be operated by Odfjell Tankers, with Odfjell Ship Management responsible for crewing and technical management, the company said.
In addition, Odfjell said it has signed 3-6 year time charters for three ships that until recently were owned by its Saudi partner - NCC Baha (24,728 dwt/1988), NCC Asir (23,001 dwt/1982) and NCC Arar (23,002 dwt/1982).
Financial terms of the charter arrangements were not disclosed.
Odfjell is one of the world's largest chemical shippers, with a fleet of 92 tankers, according company data.
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